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PPP Loan Data — Matrix Aviation Services Inc, Los Angeles, CA

SBA PPP loan data, payroll data, and salaries for Matrix Aviation Services Inc
CA

Matrix Aviation Services Inc

Entity: Corporation

Industry: All Other Travel Arrangement and Reservation Services

Location: Los Angeles, CA

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Matrix Aviation Services Inc is a corporation located at 6171 W Century Blvd Ste 100 in Los Angeles, California that received a Coronavirus-related PPP loan from the SBA of $4,645,509.00 in May, 2020.

$ PPP Loan Information

Loan Size:

$4.65M

Jobs Retained:

500

Loan Approved:

2020-05-01

Lender:

BANK OF AMERICA, NATIONAL ASSOCIATION

Matrix Aviation Services Inc in Los Angeles, CA received a Paycheck Protection Loan of $4.65M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in May, 2020.

Based on standard PPP eligibility rules, Matrix Aviation Services Inc's total 2019 payroll expenses were approximately $22.3M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $44,597 per employee1.

Because the loan received by Matrix Aviation Services Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Matrix Aviation Services Inc in Los Angeles, CA

Matrix Aviation Services Inc
6171 W Century Blvd Ste 100
Los Angeles, CA 90045

Business Industry

All Other Travel Arrangement and Reservation Services (NAICS code 561599)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CA-43

Similar Companies near Los Angeles

In the Los Angeles area, 5 businesses in the "All Other Travel Arrangement and Reservation Services" industry received a PPP loan. These local businesses reported an average of 101 employees (compared to this company's 500) and received an average PPP loan of $950,013 (compared to this company's $4.65M).

Industry PPP Comparison Statistics

Nationwide, 1,975 businesses in the "All Other Travel Arrangement and Reservation Services" industry received a total of $145,679,818.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 8 employees, 98% lower than Matrix Aviation Services Inc's reported 500 employees, and received an average PPP loan of $73,762, 98% lower than this company's loan of $4.65M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan. All information displayed on this page is publicly available information under PPP loan guidelines, and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/matrix-aviation-services-inc-los-angeles-ca